This entry was posted on Monday, September 7th, 2009 at 9:33 am and is filed under cars. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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Saviour of the Car Industry
India’s car sales will accelerate this year as economic growth is helping these countries withstand a global slump in automobile demand, an industry group has stated. This has spurred Maruit Suzuki to increase their own investment in the region.
Car sales across India alone are set to increase by at least 10 percent in the year to March 2010, double an April estimate for a 5 percent expansion. The thirteen carmakers in India sold 1.22 million cars last year which is a fantastic statistic to think about especially when the car industry is taking a big blow right now. Since this statistic was released some of the biggest companies in the world like General Motors, Toyota and Honda are making more and more investments into the car making industry localised in places like India and China as the economy and sales in US, Europe and Japan are falling rapidly.
The market for used cars in India has also risen with the need to buy an audi or buy a renault dropping. Used cars these days are extremely reasonable in over populated regions of the world like India and people are more than prepared to make the most of this now. China, japan and America are amongst several countries that are offering a mix of credits and tax breaks to try and boost auto sales by getting consumers to trade-in old cars for newer, more fuel efficient models which is thus helping keep the environment clean and safe. India’s central bank injected roughly 5.6 trillion rupees into the economy which together with the government fiscal stimulus amounted to more than 12 percent of gross domestic product. Car sales also gained in India by 1.3% in the fiscal year which finished in March, the slowest pace ever recorded within the past seven years. Because of the vast amount of people living in India and China there is a massive chance that there economies will recover so much quicker than the rest of the world.
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